New Delhi : The Reserve Bank of India (RBI) has imposed a monetary penalty of thirty-nine lakh rupees on Citibank N.A. for non-compliance with certain provisions related to the Large Exposures Framework (LEF) and Furnishing of Credit Information to Credit Information Companies (CICs). The penalty was levied under the Banking Regulation Act, 1949, following an […]
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New Delhi : The Indian rupee continued its range-bound trade on Monday, depreciating by 5 paise to 86.76 against the US dollar in early trading. Forex traders attributed this weakness to a combination of significant foreign fund outflows and a negative trend in domestic equities. The rupee is currently facing a negative bias, as foreign […]
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New Delhi : Domestic benchmark indices have remained volatile throughout the past week, with concerns over slowing Quarter 3 earnings weighing heavily on investor sentiment. As the Union Budget approaches, market experts are keen to gauge how the stock market will react, particularly given the anticipated global inflation data and domestic economic indicators. Foreign fund […]
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Mumbai : In a distressing case of cyber fraud, a 65-year-old woman from Mumbai has lost a staggering ₹1.30 crore to scammers posing as officials from various organizations, including the Customs Department, Reserve Bank of India, and the International Monetary Fund. The victim, who lived in the Chandivali area of Powai until June 2024 before […]
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Bhubaneswar, Aug 31 2024 : Reserve Bank of India (RBI) Governor Shaktikanta Das expressed confidence in the further global expansion of the Unified Payments Interface (UPI), predicting that it will grow and internationalize in several more countries. During his ongoing five-day visit to Odisha, Das highlighted that UPI has already established a presence in numerous […]
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Bengaluru, August 26 2024 : In a keynote address at the Global Conference on Digital Public Infrastructure and Emerging Technologies, part of the RBI@90 initiative, Reserve Bank of India (RBI) Governor Shaktikanta Das outlined the central bank’s strategic focus on bolstering the financial sector through innovative policies and platforms. Das highlighted the importance of enhancing […]
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New Delhi : The Reserve Bank of India (RBI) has rolled out stringent guidelines to prevent malpractices and safeguard investor interests, particularly within Peer-to-Peer (P2P) lending platforms. Effective immediately, these new regulations prohibit P2P platforms from assuming any credit risk, offering credit enhancements, or providing guarantees on loans. This measure is designed to ensure that […]
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